Struggling ERG Resources (TSE) was recently suspended from trading on The Toronto Stock Exchange because, the company says, its current financial condition does not meet the exchange’s requirements. The company says it expects its shares will trade on COATS, the over-the-counter market based in Toronto.
ERG’s large tailings retreatment project at Timmins, Ont., is on a care-and-maintenance basis. The project, which was placed into production briefly in 1988 before it was closed for the winter, did not meet expectations during its 1989 operating period.
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